3) Given the following information, prepare a statement of cash flows:

Depreciation 60,000

Increase in accounts receivable 25,000

Decrease in accrued expenses 5,000

Net Income $115,500

Increase in bonds payable 45,000

Increase in inventory 25,000

Preferred stock dividends paid 10,500

Decrease in prepaid expenses 10,000

Common stock dividends paid 50,000

Increase in plant and equipment 110,000

Increase in accounts payable 40,000

Increase in investments 25,000